GBPUSD bouncing off higher low

7 июл. 2021 г.Similar to EU, GBPUSD respected the 88 fib level, is currently respecting the 79 level as well, and price has been coming down from a rejection of resistance level. Not only did price made a previous double top at this level on the weekly, but from the monthly time frame, we can see price has been cascading and never once came close to retesting that point of rejection. In other words, potentially before the end of 2021 or at some point in 2022, price will revisit that area and indicate some pattern at the zone. From there price can continue to rise or reject a second time like it has in the past. This would be an ideal time to enter as price is giving us a higher low.